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Character Traits of Entrepreneurs—Do You Have What it Takes?

Posted on 03/16/2015

Are you thinking about starting a business? Entrepreneurship is a rocky terrain and without an intrinsic guide, you might get a little lost. Entrepreneurship is difficult and often results in failure before success is viable. As Albert Einstein once said, “Failure is success in progress.” You’re not going to find that million-dollar idea on your first try. But if you have these three traits, you may just have what it takes. Here are three qualities that indicate your future as a successful entrepreneur:

Passion—This trait is like fuel for entrepreneurs. Without passion, there is no business, no promotions, no entrepreneurial success. Entrepreneurs are not only driven by money, they are driven by power and passion. It is commonly said that money is just a way to keep score between competitive entrepreneurs.

Grit—Tenacity, resilience and grit are traits that are highly valued in the workforce. The U.S. Department of Education named these traits as important factors for achievement in the 21st century. These three qualities ensure business survival and success.

Self-confidence—It is natural to doubt yourself, but if you consistently believe in your decisions and have faith in yourself, you will succeed. You’ll be more willing to take risks and be more competitive which is crucial for creating a company.